Singapore’s sovereign wealth fund GIC Pte. believes in the long-term potential of the US and will continue to invest there even as geopolitical rivalries heat up, according to former prime minister and GIC Chairman Lee Hsien Loong.
More than a third of GIC’s global portfolio is in the US, Lee said in a speech in New York on Wednesday. GIC’s total portfolio saw an average annual return of about 4% over the past 20 years, above the global inflation rate, he said.
GIC also seeks to maintain US assets as a substantial part of its overall portfolio, Lee said. “We have every confidence that this is the correct choice for a fund taking a long-term perspective.”
